How to Find Your Lost Life Insurance Policy

How to Find Your Lost Life Insurance Policy

When your loved one passes away, finding their life insurance policy can be a time-consuming and frustrating ordeal.

When a client loses someone dear to them, they may be expecting a life insurance policy death benefit to help them through this hard time. Sometimes, however, the life insurance policy can become lost. But how, you may be asking, can an insurance company simply lose such a policy? Don’t they have a digital system in which everything is kept? Very likely, but there are various reasons a policy may become lost. If the policy of your deceased loved one got lost in the taverns of a life insurance company, here are a few tips on how you can locate that policy.

Why Benefits Go Unclaimed

Lost life insurance policies don’t happen because of an evil corporate business man. The reasons are actually not very grandiose. Some carriers may merge, while other times the beneficiary is unaware of the policy.

How to Find a Policy

  1. Contact the Employer – If the deceased was employed during their death, an employer-sponsored life insurance policy may be in place and the employer is simply waiting for you to claim the death benefit.
  2. Check That the Insurance Company Remains Active – When a policy gets lost, it is often because the insurance company that held the policy was absorbed or bought out by another company. Contact your state’s Insurance Department to find out what happened to your insurance company.
  3. Try the MIB Database –  This is a consortium of life and health insurers that contains every policy ever written since 1996.

To find your life insurance policy that is affordable and comprehensible, contact Miller Insurance Agency, Inc. in Carlisle. We’re happy to help you with the policy that you and your family need!

How to Locate a Lost Life Insurance Policy

How to Locate a Lost Life Insurance Policy

When you have to help a customer locate a deceased family member’s lost life insurance it can be a timely and frustrating process for both parties involved. 

Why Do Benefits Go Unclaimed? 

There are many reasons as to why a life insurance may go unclaimed. There may be times where carriers merge or are acquired, other times there is uncertainty about a policy continued in force, but many benefits go unclaimed simply because the beneficiary is unaware of the existence of such policy or they are unable to find it.

How to Find the Policy

  1. Search the insurance-related files. Make sure that you have checked your insurance files. It may just be stuck behind another piece of paper you might not have checked.
  2. Contact the employer. If the deceased person in question was working at the time of death, their employer may have a copy of the insurance policy.
  3. Look over canceled checks and bank books. Look for any checks that were written for the insurance company.
  4. Search the insurance company. It may be that the life insurance company in question may not exist anymore or was absorbed by another company. If so, contact the new company from which it was absorbed.
  5. Check your state’s unclaimed property office. Start with the National Association of Unclaimed Property Administrators and follow the on-screen instructions to see if they have a record of your insurance policy.
  6. The MIB database. The Men In Black can’t help you with such Earthly matters, but the Medical Information Bureau can. The MIB Group database has individual life insurance applications underwritten since 1996.

To find a quality life insurance policy that is affordable and comprehensible, without too much stress, contact Miller Insurance Agency, Inc. in Carlisle. We’re happy to help you with the policy that you and your family need!

3 Reasons People Don’t Buy Life Insurance (And Why They’re Wrong)

3 Reasons People Don’t Buy Life Insurance (And Why They’re Wrong)

Life insurance is something that most of us don’t want to think about, but it’s an important aspect in keeping your family safe.

Thinking about life insurance is something one has to do, however difficult it is. Why is it difficult? Well, it might something have to do with coming to terms with your inevitable death. When it comes to the safety and financial security of your family, life insurance is definitely something you should think about. For some, however, it’s not enough. Life insurance myths are something that they may never think about because of preconceived notions they picked up along the way. Here are three reasons people don’t buy life insurance and why they are wrong to not do so.

  1. “I’m, like, really healthy.”

You may be healthy now and have a strong family record of being healthy, but no one knows how long our health will remain in tact. You never know what virus or infection or injury you’ll pick up tomorrow. Short of being Patient Zero for the zombie apocalypse, purchasing a quality life insurance plan protects your family should anything unexpected happen to you.

  1. “I can’t afford it.”

This is a misconception that many people have about life insurance. The truth is that life insurance is not all that expensive. This depends on a number of factors, of course, including your age, health, life habits, and how much coverage you want to buy.

  1. “The process intimidates me.”
    How much is your family’s security worth to you? If your family depends on your for things like mortgage, education, extracurricular activities, or anything else—their security should certainly be worth a few moments of your time, no matter how uncomfortable you may be.

Your family depends on you making the big decisions (at least half of them). Your family shouldn’t have to suffer further: your early departure is hard enough already. For a quality life insurance policy that is affordable and comprehensible, without too much stress, contact Miller Insurance Agency, Inc. In Carlisle, PA. We’re happy to help you with the policy that you and your family need!

Questions To Ask Your Life Insurance Agent

Questions To Ask Your Life Insurance AgentTalk to your life insurance agent about these questions before you buy a policy.

When you buy a life insurance policy, you do so to protect your loved ones. It’s important, then, that you work with a life insurance agent who understands—and supports—that goal. To help you find the right life insurance agent, ask these questions.

  • How do I reach you? Ask your agent about his or her preferred means of communication (e.g. email, phone, text) and make sure it matches yours. Also, ask how regularly he or she will be in touch. A good agent should have a habit of reaching out to evaluate and update your policy.
  • What does this mean? If there’s a question of your policy that’s confusing, ask your agent to explain it. He or she should be able to do so in a way that gives your complete clarity.
  • Are you an independent agent? To make sure your family has the policy options it needs, work with an independent agent—who works with multiple providers—rather than a captive agent who will only show you coverage options from one provider.

If you’re ready to sit down with an agent dedicated to helping you get a great life insurance policy paired with great service, contact Miller Insurance Associates in Carlisle, Pennsylvania today!

Need Life Insurance After A Heart Attack?

Need Life Insurance After A Heart Attack?A few tips to help you get the life insurance policy you need after a heart attack.

It’s a common misconception that you can’t get life insurance after a heart attack. In fact, though, you can not only get coverage but, with a little hard work, can even get back to a standard rate! Here are a few tips for helping you get a life insurance policy after you’ve had a heart attack.

  • Listen To Your Doctor: After a heart attack, your doctor will have a number of things for you to do. If you can show your insurer that you are following a medical professionals advice to improve your health, they’re more likely to offer you coverage.
  • Know How To Reduce Your Risk: Your heart attack is just one of many factors your insurer will look like. By eating right, exercising, cutting out all tobacco products, maintaining a healthy weight, and reducing stress, you can show them your good lifestyle choices far outweigh this singular risk factor.
  • Wait: Sometimes, you just need to wait. Generally, your insurer will want to wait at least six months after a heart attack, though you may have to show a year or two of good health before securing a policy.

Fortunately, getting the life insurance you need becomes much easier if you have a dedicated insurance agent helping you. For that kind of service, contact Miller Insurance Associates in Carlisle, Pennsylvania.

No Health Insurance? Know The Risks

Risks of Being UninsuredThe Risks You Take by Being Uninsured

If you do not have health insurance, you should understand the risks and the costs associated with being uninsured.

Financial
Medical bills can be exorbitant if you have a serious accident or illness. These bills would be unmanageable without any sort of health insurance. You will also face a tax penalty which could be as much as 2.5% of your yearly earnings.

Health
It goes without saying that being uninsured will put your health at risk. You will have less access to effective preventative care, as well as limited choices of treatment should you fall ill or injured.

Relationships
If you support your loved ones financially, they will suffer if you fall ill and have health care bills to pay. They will also suffer financially if they help you with medical bills. Even worse, if your health declines because you cannot get care due to being uninsured, they will see you get weaker and deteriorate.

Society
If you contribute to society by raising children, volunteering, neighborhood watching, and supporting friends and family emotionally, and you fall ill, most likely you will not be able to continue positive reinforcements. Also, if you become disabled because you don’t have access to health care, not only does society pay your disability payments, but it loses out on your future productive contributions.

At Miller Insurance Associates, we provide the most affordable policies for you, explain your choices, and help you to make a decision that’s best for you and your family. Schedule a free consultation to discuss your options today!

4 Fallacies About Life Insurance

Life Insurance Carlisle PAWhat You Should Not Believe About Life Insurance

I’m Single and Don’t Have Dependents – I Don’t Need Coverage
Even if it is just to cover the costs of remaining debts, medical bills, and funeral costs. If you have no life insurance, you could leave your family or executor with financial strain from your expenses.

My Term Life Insurance Coverage at Work Is Sufficient
If you have a spouse or other dependents, or will need to pay estate taxes, additional coverage may be necessary if the term policy does not meet the needs of the policyholder.

Only The Main Earner Needs Life Insurance Coverage
This is not only nonsense as the cost of replacing services formerly provided by a deceased homemaker can be higher than you think. When daycare and cleaning costs are factored in, it makes more sense to insure against the loss of a homemaker.

I Should Invest My Money Rather Than Buy Life Insurance
You take a big chance when you depend solely on your investments in the early years of your life, especially if you have dependents. Until you reach the breakeven point of asset accumulation, you need life coverage of some sort.

For the best policy for you, contact Miller Insurance Associates located in Carlisle, Pennsylvania. We are dedicated to meet each individual’s life insurance needs.